Real-time inventory visibility Trendagram

January 8, 2016 Ken Klaver

Nearly half of retailers identified inventory visibility as a top store systems priority in 2014. With tight cross-channel integration and unified commerce in place across a single view of orders, inventory, and more, retailers can reap great financial benefits.

Take a closer look at this trendagram from GT Nexus to find out how seamless cross-channel integration can greatly boost revenue for retail organizations.

How can real-time inventory visibility help flexible fulfillment processes?

A network view of inventory illus- trates the big picture to handle fulfillment. For example, an online customer orders a sweater seeking next day delivery. A network view means I know what’s in the DC, what’s in-transit, what’s available to expedite from the factory and what’s on-shelf at store locations. Let’s say the consumer who ordered the sweater lives within 4 miles of the nearest store. A retailer’s first instinct may be to fulfill the order from that nearby location. But if I have a network view of inventory, I can see that that nearby store has just 2 sweaters left in that color and size. But another location 23 miles away from that customer is holding 5 of those same items and they are at risk of markdown. I can make the smarter decision based on the position of inventory across the big picture. In this case, it might be fulfilling from the store 23 miles away. 

Often, optimizing one area or region comes at the expense of another department. They are not seeing the big picture. When the retailer pivoted and makes a broad effort to break down silos and get a holistic view of the supply chain, they are able to work cohesively towards one primary goal – ensuring in-stock goods. 

 

About ControlPay

ControlPay was founded in 2002 by a team of European veterans in the logistics industry. Our main objective was, and still is today, to support multinationals in their continuous endeavor for control of and insights in freight costs and the flow of invoices. ControlPay offers a robust array of pre-and post - payment auditing, rate management, reporting, logistic consultancy, logistics tendering solutions and innovative analytics tools. Over this past decade, we've reinvented the industry on a global scale.

Having anticipated on globalization and digitalization from the very first build of our freigh audit platform, our solutions form seamless matches with the business needs of the largest multinationals. It's highly intuitive interface is based on complex algorithms and a transparent structure forms the basis of the most advanced freight audit platform in the world.

Visit our website for more information regarding our services. 

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